51-59 Fennell St 50,849 SF 43% Leased Office Building Port Melbourne, VIC 3207 For Sale

Positioned within Melbourne’s premier urban renewal precinct, Fishermans Bend, 51-59 Fennell Street presents a rare investment and development opportunity in a capital growth location. The property spans over 2,716 m² of building area across a 2,561 m² Capital City Zone (CCZ1) site with three prominent street frontages and immediate proximity to the Melbourne CBD, just 2 km away.
Currently fully leased to Michelin Australia and HungryHungry, this asset generates an approximate net income of $739,764 p.a. and offers 59 on-site car spaces, a significant advantage in this high-demand area. Its zoning allows for unparalleled flexibility, including mixed-use redevelopment with no height restrictions (STCA) and support for large-scale, high-density projects.
The site benefits from outstanding connectivity, providing immediate access to West Gate Freeway, CityLink, and robust public transport options. Its advantageous Fishermans Bend location underpins long-term appeal, driven by strong infrastructure investment and ongoing precinct revitalization. Whether held as an income-producing investment, repositioned for future owner occupation, or redeveloped into a major mixed-use project, this property demonstrates compelling fundamentals for institutional and private investors alike.